China’s central bank has approved foreign exchange purchases for commercial banks to fund increased gold import quotas, according to two sources familiar with the matter. This move comes alongside other stimulus measures, including interest rate cuts and liquidity injections, as China works to offset economic damage from the U.S. trade war. The increased gold imports could help meet growing demand for the precious metal while simultaneously slowing the yuan’s appreciation, which has been rising as investors move money out of U.S. assets. Gold recently reached an all-time high of $3,500 per ounce amid trade tensions, with China’s central bank also increasing its own gold reserves for the sixth consecutive month.

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Gold Drops to $4,681 — Iran Ceasefire Expires Today
Gold has fallen to $4,681 as the Iran ceasefire expires today and the Fed chair fight stalls in the Senate. With two live scenarios and institutional uncertainty growing, here’s what the price action actually means for your allocation.





